The Moscow INTERPROGRESSBANK controlled by Vladimir Antonov is to change hands. Just before that, Antonov’s CONVERSBANK MOSCOW was sold. INTERPROGRESSBANK will be sold to companies affiliated with German Gorbuntsov, INCREDBANK’s board chairman. Experts estimate the INTERPROGRESSBANK deal at R500 million. According to INTERFAX CEA, as of October 1, 2006, INTERPROGRESSBANK was 330th in terms of assets (R2.2 billion) among Russian banks and 562nd in terms of capital (R164.2 million).
Source: VEDOMOSTI, January 26, 2007
